Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating activities:    
Net income $ 6,578 $ 6,397
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,041 986
Amortization 112 113
Amortization of unrecognized prior service cost and actuarial losses 259 442
Discount accretion on investments   (4)
Stock-based compensation expense 298 342
Deferred income taxes (145) 220
(Increase) decrease in operating assets:    
Accounts receivable (4,946) (4,596)
Unbilled revenue (2,371) 3,640
Inventories 2,486 139
Prepaid expenses and other current and non-current assets (552) (457)
Prepaid pension asset (581) (397)
Increase (decrease) in operating liabilities:    
Accounts payable 2,360 (1,938)
Accrued compensation, accrued expenses and other current and non-current liabilities 1,516 135
Customer deposits 1,615 (1,343)
Income taxes payable/receivable 939 568
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits (119) 46
Net cash provided by operating activities 8,490 4,293
Investing activities:    
Purchase of property, plant and equipment (4,096) (898)
Purchase of investments (23,000) (54,997)
Redemption of investments at maturity 19,000 50,500
Net cash used by investing activities (8,096) (5,395)
Financing activities:    
Principal repayments on capital lease obligations (44) (44)
Issuance of common stock 29 259
Dividends paid (810) (603)
Excess tax benefit on stock awards 34 119
Net cash used by financing activities (791) (269)
Effect of exchange rate changes on cash 46 39
Net decrease in cash and cash equivalents (351) (1,332)
Cash and cash equivalents at beginning of period 32,146 24,194
Cash and cash equivalents at end of period $ 31,795 $ 22,862